Hard Seltzers Market Highlights
Market Research Future (MRFR) studied the global hard seltzers market 2020 through the review period till 2027. By 2027, the hard seltzers market is likely to rise at 7.69% CAGR in the analysis period. By 2027, the hard seltzers market value can touch USD 1,649.96 Mn. The rising demand of hard seltzers due to rise in consumer preference for reduced or low alcoholic beverages can favor the market rise. The increase in sales of hard seltzer among the expanding health-conscious consumers can improve the market impetus. The availability of hard seltzer in smaller packaging, resulting in optimal consumption, can drastically enhance drinking habits of people. Thus, the legitimate concern of product designers towards the wellness of people can significantly impact the hard seltzer market.
The worldwide hard seltzers market can register a notable growth pace as the consumer preference for carbonated beverages that has low or reduced alcohol content is fueling sales of hard seltzers on a global scale. Furthermore, the ingression of sugar-free hard seltzers can promote growth of the market in the near future. Innovative flavors of hard seltzers that are introduced by hard seltzer manufacturers are observed to acquire high profit for the market. On the contrary, rising demand for non-alcoholic beverages can restrain the global hard seltzer market rise.
Key Players
Anheuser-Busch Companies, LLC (US), Constellation Brands, Inc. (US), Molson Coors Beverage Company (US), Boston Beer Co. (US), Blitz-Weinhard Brewing Co.’s (US), Polar Beverages (US), Craft Cocktail Company (US), Diageo Plc. (UK), and Oskar Blues (US) are some of the global hard seltzers key market players that are enlisted by MRFR. These marketers are focusing on acquisitions, and product launches among others, to improve their global presence.
Segmental Analysis
The segment study of the global hard seltzer market size in 2020 is based on flavour, distribution channel, and packaging type.
The flavor-based segments of the hard seltzer market are pineapple, lime, grapefruit, berries, orange, and blends, among others. The berries segment can secure the largest market share by 2027. The availability of different types of berry-flavoured hard seltzer and the increase in consumer preference for this flavor can cause the berry segment to thrive in the near future. The blends segment can rise at the fastest-pace through the forecast term.
The packaging type-based segments of the hard seltzer market are cans and bottles. The canned goods segment can secure a considerable hard seltzer market share by 2027, suggests the MRFR study. The bottle segment is expected to register a high CAGR by 2027.
The distribution channel-based segments of the hard seltzer market trends are non-store based and store-based. The store-based segment studies liquor stores, supermarkets, and hypermarkets, among others. The supermarkets and hypermarkets segment can rise at decent expansion pace in the review term. The increase in the number of liquor stores is likely to play a significant role in the distribution dynamics of hard seltzers that can impact the market. The non-store-based segment can exhibit a rapid growth rate in the forecast term.
Regional Analysis
North America's hard seltzer market overview, which accounts for the dominant share of the global market, is anticipated to thrive at a high CAGR. The US can lead the regional market as the number of consumers of hard seltzers are observed to increase substantially. Europe's hard seltzer market is likely to hold significant market share and can be spearheaded by the UK. Other regions of the EU are likely to contribute significantly to the regional hard seltzer market. The increase in consumption of low-calorie hard seltzers can also boost the European market during the evaluation period. The expansion of hard seltzer market in the rest of the world can be at 6.90% CAGR by 2027.
In Asia Pacific, the market can secure 75.68% share of the overall hard seltzers market by 2027. The presence of a large base of health-conscious people can resulted in the exponential growth of the hard seltzers market in region. Different brewing start-ups and alcoholic manufacturers are opening hard seltzers segment to boost their earnings. The introduction of new hard seltzers product portfolios by renowned companies can underline the market rise in Asia Pacific. The rise in demand for hard seltzers and hike in money spent on hard seltzers can favor the regional rise. However, COVID 19 outbreak has resulted in closures of hypermarkets and supermarkets that impacted sales of hard seltzers that can restrain the market. On the other hand, robust facilities offered by online platform can benefit APAC market.
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